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from members of britain's parliament. in this case that now involves scotland yard, very high-level politicians there. >> cbs news correspondent michelle miller has more on the biggest challenge ever to this powerful media mogul. >> it all shows lack of good judgment. >> reporter: for days, ministers in parliament have called for answers from the man rarely forced to answer anyone. now, rupert murdoch must face british lawmakers in a high-stakes effort to defend himself and his media empire. according to a bloomberg report, the 80-year-old ceo is under growing pressure to step down. and may be replaced by current coo chase kerry. >> they're in big trouble. they have criminal investigations that they have to go through. they have parliamentary investigations and they have a lot of shareholders who are really restless. >> reporter: restless because in the two weeks since the phone hacking scandal broke, stock in murdoch's parent company, news corp, has dropped nearly 15%. a loss of an estimated $6 billion. in 30 years, murdoch transformed a single australian newspaper into the w
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